Comment on Updates - June 2015

Saurav commented on 10 Jun 2015, 05:29 PM

Great work Nitin! The sincerity and effort which you and your team is putting shows through.

My profile is slightly different from most of your other investors/traders. I am on a regular job and trade infrequently (though in large lots) and long only from my office or mobile. I always take delivery of stocks: so no leverage or futures.

So here are a few questions:

1. I can’t install PI at office. So hopefully KITE is the solution. I hope it is as versatile as PI and provides all charting features/indicators including custom indicators and across timeframes. Hopefully, back-testing as well as stock scanner/screener on the basis of technicals is available. When is it getting released?

2. I am currently not trading and money is lying idle in my account with you. Can you put in an ability to invest idle cash in a liquid mutual fund plan (till the time you have a full fledged mutual fund platform)? The problem appears during periods like now when I want to hold cash. Then, I have to first move it out of your platform, go to some other broker/fund house, invest there. When I want to invest back in equities, then I have to first liquidate my mutual fund, wait for the funds to hit my bank account and then transfer it to you before can trade with you. So I lose 1-2 vital trading days here plus have to go through a lot of headache and effort. So I end of reviewing every trading decisions thrice.

3. Between, for people like us who are infrequent traders and take delivery, if you can allow two days time to fund (by reducing maybe the the leverage allowed for such trades) it will be great. As I explained, It takes time to move funds.

4. Most of the banks have limits on how much funds one can transfer online on one day. So every-time, I have to trade, I have to visit my bank for RTGS as I dont have an HDFC account. And after I RTGS, I have to wait for your account to get funded and then you to transfer it to my trading account. If you can have open accounts with multiple major banks, it will help investors a lot. Also for investors who have to transfer funds to you via RTGS/NEFT, you can create virtual accounts mapped to individual investors which will make funds transfer and reconciliation process very easy for you and your investors.

5. Because of reasons mentioned above, I am still finding my old broker who allows 2 days time grace for funding plus mutual fund platform a lot more convenient than your platform as of now. If you can address these, you will become unbeatable even for investors with my profile.

6. Need an SMS to be sent whenever a trade is done and not just if I do call and trade.

7. Also, wanted to understand one thing. Lets say if I am holding stocks in my DP account and no cash in trading account and I sell all my holdings in morning, can I buy it back later during the day or tomorrow (say when I hit a SL) or will I have to wait before my account gets funded at T+2?

Thanks

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